Gymshark names Rich Sanders as its new chief financial officer

British gym and fitness apparel brand Gymshark has tapped Rich Sanders as its new chief financial officer (CFO), with immediate effect.

Sanders, who was previously Gymshark’s strategy director and interim CFO, will report directly to founder and chief executive Ben Francis and will continue to operate out of Gymshark’s Solihull headquarters. He succeeds Mathew Dunn, who resigned from the role in 2024.

As CFO, Sanders will be responsible for ensuring that Gymshark continues to grow sustainably, improves its revenue and profit margin and “invests in the right places,” added the company in a statement.

Sanders joined Gymshark in March 2021 as its head of corporate finance following eight years at Price Waterhouse Coopers. He became Gymshark’s strategy director in October 2023 and has sat as interim CFO since November 2024.

Commenting on his new role, Sanders said: “Over the past four years, I’ve had the privilege of witnessing the stellar growth of Gymshark first-hand. I am continually amazed at the strength of the fundamentals of this business - having the best product and the best brand.

“Just last weekend, I attended our latest Gymshark event, along with over 14,000 members of the community, which really brought this home. The affinity for Gymshark is like nothing I’ve ever seen, so to be able to lead our financial operations to play a part in taking us to the next level is a challenge I completely relish.”

Gymshark appoints new CFO to continue to drive growth and revenue

In the last five years, Gymshark has reported revenues increasing from 261 million pounds to 607 million pounds, as well as expanding its global reach, opening a US headquarters, and flagship stores in London, Amsterdam, Dubai and Manchester, and it will soon open its first permanent US retail store in New York City.

Francis, founder and CEO of Gymshark, added: “Gymshark is entering the next chapter of its story - where we open more stores, continue to work with world-class supply chain to create the best possible product and become fully global. To get there, we need a CFO with resilience, ambition and sensibility.

“Since Rich joined us, he has not only been pivotal in the evolution of our finance function, but has also been invaluable in helping to set the vision for Gymshark. We naturally did plenty of due diligence to ensure we had the right person to become our next permanent CFO.

"However, his understanding of the brand, his leadership qualities and his financial acumen made him the standout candidate. I’m so proud that we have been able to make this appointment from within the four walls of Gymshark. I cannot wait to see what he brings to the role as we continue on our quest to become an iconic 100-year brand.”